Independent Geologist's Report Zambia - Syrah Resources Ltd

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1 INTRODUCTION Mr Paul Kehoe, Managing Director of Jacana Resources (Jacana) has requested The MSA Group (MSA) to provide a Technical Report covering several Prospecting Licences as well as Prospecting Licence Applications in which Jacana either has or is earning an interest. Jacana currently has an agreement with African Eagle Resources (AFE) to acquire existing AFE Prospecting Licenses covering two separate project areas within Zambia, both of which have been previously identified as having uranium potential, and one with copper potential. This report will therefore focus on the relevant Prospecting Licences that make up the two projects, viz. Lunga and Sasare (Figure 1-1). Figure 1-1 Location of Prospecting Licences Although the original scope of the work was to provide an Independent Geologists’ Report (IGR) for Jacana (in order to complete a proposed IPO on the ASX), the scope was subsequently changed by Jacana for MSA to provide a Technical Report. Upon request and instruction from Jacana, information relating to Zambian geography, economy, infrastructure, political status, climate and topography has been omitted from this report. It was deemed necessary to include a short summary of the Zambian Jacana Resources – Technical Report - Zambia – September 2011 Page: 1
Mining Act. It must be noted that the legal status and tenure of the various Prospecting Licences under review have not been reviewed by MSA and this is subject to an Independent Solicitor’s review. Mike Venter, Principal Consultant at MSA visited the Lunga and Sasare Projects during August 2011. 1.1 Competent Person This report has been compiled by Mike Venter, who is a professional geologist with 18 years’ experience in the exploration and evaluation of mineral properties within Africa. Mike Venter is a Principal Consultant with The MSA Group and a Member of the Geological Society of South Africa (GSSA), Society of Economic Geologists (SEG) and South African Council for Natural Scientific Professionals (SACNASP). Mike Venter has the appropriate relevant qualifications, experience, competence and independence to be considered a Competent Person under the definitions provided in the Reporting Code. 2 OVERVIEW OF THE ZAMBIAN MINING CODE All exploration and mining activities are governed by the Mines and Minerals Development Act of 2008, which came into effect on 01 April 2008. According to the Act, all rights of ownership in searching for, mining and disposing of minerals within the Republic of Zambia are vested in the President on behalf of the Republic. The following rights may be granted: a prospecting licence; a large-scale mining licence; a large-scale gemstone licence; a prospecting permit; a small-scale mining licence; a small-scale gemstone licence; and an artisan’s mining right. A licence may be granted to an individual or a company; the latter is required to establish an office in Zambia. A prospecting permit, small-scale mining licence, small-scale gemstone licence and/or an artisan’s mining right will not be granted to a person who is not a Zambian Citizen or a company not owned by a Zambian citizen. A mining right for industrial minerals can only be granted to a Zambian citizen or a company owned by a Zambian citizen. Should more than one person apply for a mining right over the same area, applications are processed on a first come, first served basis. An applicant may apply for a mining right in an area which is already subject to another mining right, but may apply for consent from the holder of the pre-existing mining right; the latter may not unreasonably withhold consent. Consent must be given by the pre-existing licence holder within ninety days where the minerals or metals applied for are different to those indicated on the holder’s licence or permit; the geographical position of the minerals or metals applied for is different from the holder’s ore body position indicated in the approved programmes of operations; the geological position of the minerals or metals Jacana Resources – Technical Report - Zambia – September 2011 Page: 2
Page 1 and 2: J2151 Technical Report - Zambia Pre
Page 3 and 4: High level validation and orientati
Page 5: Figure 4-1 Simplified geology of Za
Page 9 and 10: Where the application for a large-s
Page 11 and 12: The holder of a prospecting licence
Page 13 and 14: Table 3-1 Jacana Resources Uranium
Page 15 and 16: The Basement Supergroup is overlain
Page 17 and 18: In western Zambia and within the Za
Page 19 and 20: Mining Rights to a small area withi
Page 21 and 22: 5.3 Mineralisation and Exploration
Page 23 and 24: Figure 5-6 U and Th channels - Lung
Page 25 and 26: 5.4.3 Site visits by Jacana and MSA
Page 27 and 28: 6.2 Project Geology The Sasare proj
Page 29 and 30: sandstones are derived, suggesting
Page 31 and 32: A site visit carried out to the Sas
Page 33 and 34: TradeInvest Africa, 2008. Zambia en

Independent Geologist's Report Zambia - Syrah Resources Ltd

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